*shakes off imposter syndrome*
I was honored to be part of this VC roundtable discussion with some of the most brilliant minds in Utah. Here are a few of my favorite takeaways from the conversation:
1) Blake Modersitzki said, "One of my partners used to say that if you can’t explain the business on the back of your business card, it’s too complicated. VCs have a very short attention span."
👉🏻 Distilling a business's edge to catch the attention of investors, customers, and partners couldn't be more important, especially in a dry fundraising environment.
2) Davis Warnock said, "One of the biggest bummers for me is when the things I wrote in my notes in a face-to-face conversation don’t align with the data in the data room. I don’t know what’s true, which lengthens the due diligence process."
👉🏻 Founders should focus on creating a consistent story supported by data. Words become opinions or lies if they are not supported by data.
3) John Mayfield said, "One lesson I’ve learned is that you’re playing over a decade, not on a single deal. Do what’s right for the entrepreneur, not just the VC, because this is a human business. When there are too many people, I think it is good for someone to step up and step away."
👉🏻 Social capital is the hardest type of capital to earn, but is easily lost. Business is personal.
Thanks to Utah Business, Amy Rees Anderson, and Jeff Bowman for hosting an insightful discussion.
🔗: https://lnkd.in/gkvjMuR6
Last month, Utah Business partnered with Foley & Lardner LLP to host a roundtable featuring Utah’s venture capital leaders. Moderated by Amy Rees Anderson, founder and managing partner at REES Capital, they discussed perfecting the pitch, the pros and cons of incubators, protecting one’s reputation and more.
🖋: Beth Taylor
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